Trump Announces Plan to Lower Drug Prices

Democrats found a few things to like in President Trump’s plan to lower prescription drug prices, but blasted him for backing off a campaign proposal to allow Medicare to set drug prices.

The president delivered a long-anticipated speech Friday, calling his plan “the most sweeping action in history” to reduce how much the public spends on medicines. The blueprint he presented includes a proposal that drug companies list their prices in commercials, as well as revamping Medicare’s drug prescription plan, to prompt pharmacy benefit managers and insurers to share with consumers more of the rebates they get from drugmakers.

The administration also will target the low prices that other countries pay for U.S.-manufactured drugs in new trade agreements.